"SAS, the parent company of GNV, owned by the shipowner Aponte, will sell its 49% stake in Moby to Onorato Armatori, who controls it, with a waiver of the consideration , and will also waive the pledge on the remaining 51%. To repay the loan obtained from SAS, Moby will entrust a third party with organizing a tender to sell a package of assets." Furthermore, "Compensation will be available for tickets purchased before July 16th."
The new financial transaction on the seas was announced by the Antitrust Authority, which accepted and made binding the commitments presented by SAS, a subsidiary of the MSC Holding group, Moby, and Grandi Navi Veloci.
The investigation, the Italian Competition Authority explains, was launched on November 5, 2024, to determine the existence of a possible maritime cartel due to the structural link between Moby and GNV: a connection that arose after SAS acquired a 49% stake in Moby, strengthened by SAS's substantial financing of Moby in December 2023.
According to the Authority, these operations could have led to a deterioration in competitive dynamics on the routes where Moby and GNV (controlled by SAS) compete, especially those to Sardinia.
The commitments submitted by SAS and Moby, made binding by the Authority, dissolve the structural and financial ties that had motivated the initiation of the investigation. Among the commitments, Moby will entrust a third party with organizing a "competitive and transparent process, open to all interested operators," to sell a package of assets identified based on an independent appraisal; the proceeds from the sale will be used to repay the loan received from SAS. To ensure Moby's continued operations, certain assets will be subject to charterback restrictions. Furthermore, if the proceeds from the sale of these assets are insufficient to repay the SAS loan, any remaining credit will be sold to an independent third party, under conditions that respect Moby's economic and financial sustainability.
Moby and GNV have also committed to providing a refund to consumers who, before the date of publication of the commitments (July 16, 2025), purchased a trip on the Genoa-Olbia, Genoa-Porto Torres, and Civitavecchia-Olbia routes between June and September 2025, or a trip on the Naples-Palermo route on weekends between November 1, 2024, and March 31, 2025. For Moby, the refund is equal to 5% of the ticket price (net of taxes, fees, and ETS) if the consumer chooses a refund, and 10% if they choose a voucher instead. For GNV, the amount is equal to 15 euros for cabin travel and 7% of the price paid for other trips.
(Unioneonline/E.Fr.)
